Pakistan Cricket Board (PCB) seems to be in a major financial crisis and is also embroiled in a new controversy. The tension over money has increased significantly between PCB and Pakistan Super League (PSL) franchises. The financial crisis in the board led by Mohansin Naqvi has become public. After this, the Board has now started taking strict steps to recover dues worth crores of rupees from various parties including franchisees, broadcast partners and commercial partners associated with PSL.
According to reports, PCB has sent legal notices to several parties involved in the Pakistan Super League, including franchises, broadcast partners and commercial partners. The board has asked them to pay the outstanding amount and has warned them of taking action like termination of the contract if they do not do so.
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Controversy is continuously increasing
This matter has become big because on one hand PCB is trying to recover money from its partners. At the same time, PSL franchises are also demanding their due amount from the board. According to the report, some franchisees have paid their annual fees but have asked the board to also give them the share they get from the central pool. A franchise has claimed that it has not received its full share of about 96 crore Pakistani rupees i.e. about 32 crore 74 lakh Indian rupees for the 10th season of PSL.
What is the whole matter?
According to a report in Times of India, the PCB has recently sent notices to several defaulting parties. These include PSL teams, broadcast partners and commercial associates. The board has asked them to pay the dues, otherwise strict action can be taken against them. In the notice sent to PSL franchisees, they were asked to pay the dues of annual fees. Now these franchises have paid their dues but have demanded their share from the board.
Franchises asked for their share
According to the report, the franchisees say that they have not received the full amount from the central pool for a long time. A team has said that it was supposed to get a share of about 96 crore Pakistani rupees for PSL 10 but it did not get the full payment. Apart from this, last year’s dues have also not been paid yet. It is being claimed that some franchises are yet to receive around 40 to 45 crore Pakistani rupees from last year’s Central East. For this reason, tension regarding payment has increased between the board and the franchisees.
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PCB gave clarification
PCB seems to be entangled in this whole matter. The board says it cannot pay the franchisees until it gets the money from its contract partners. According to the board, the main reason for the payment being stuck is that some of its big partners have not deposited their money yet. It is being told that the biggest defaulter is not a franchise but a company. This company had taken broadcast, media and commercial rights of PSL and international cricket. This company is reported to have outstanding dues of around Pakistani Rupees 4.5 billion. The company has not made the payment citing huge losses.
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